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macroJun 30, 2026, 2:16 PM

WTI Oil Rises to $70.80 as Hormuz Shipping Improves

West Texas Intermediate crude edged up to around $70.80 per barrel on Tuesday, supported by improving shipping conditions in the Strait of Hormuz and a mixed risk environment.

USOIL

West Texas Intermediate (WTI) crude oil traded higher on Tuesday, hovering near $70.80 per barrel at the time of writing. The rebound comes amid signs of improving shipping traffic through the Strait of Hormuz, a key chokepoint for global oil flows.

Market sentiment remains mixed as traders weigh geopolitical developments in the region against broader risk appetite. The recovery in WTI follows recent pressure from lingering uncertainty over US foreign policy and global demand outlooks.

Source: FXStreet Forex News